Marzetti (NASDAQ:MZTI) Reaches New 12-Month Low – Time to Sell?

The Marzetti Company (NASDAQ:MZTI) shares hit a new 52-week low on Friday . The stock traded as low as $122.63 and last traded at $124.3610, with a volume of 472989 shares changing hands. The stock had previously closed at $130.28.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MZTI. Stephens decreased their price target on Marzetti from $180.00 to $160.00 and set an “equal weight” rating on the stock in a research report on Monday, April 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Marzetti in a research report on Friday, January 9th. Wall Street Zen cut Marzetti from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, DA Davidson decreased their price target on Marzetti from $184.00 to $168.00 and set a “neutral” rating on the stock in a research report on Monday, March 16th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $176.00.

Marzetti Stock Down 4.5%

The company’s 50-day moving average is $145.69 and its two-hundred day moving average is $158.80. The company has a market capitalization of $3.41 billion, a P/E ratio of 19.05 and a beta of 0.38.

Marzetti (NASDAQ:MZTI) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported $2.15 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.08). The company had revenue of $509.77 million during the quarter. Marzetti had a return on equity of 18.55% and a net margin of 9.25%.The company’s revenue was up 1.7% compared to the same quarter last year.

Marzetti Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 6th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, March 6th. Marzetti’s dividend payout ratio is 61.26%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MZTI. Royal Bank of Canada boosted its stake in Marzetti by 3.8% in the first quarter. Royal Bank of Canada now owns 32,626 shares of the company’s stock worth $5,710,000 after buying an additional 1,186 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Marzetti by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,637 shares of the company’s stock worth $2,036,000 after buying an additional 500 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Marzetti by 16.1% in the first quarter. Goldman Sachs Group Inc. now owns 221,350 shares of the company’s stock worth $38,736,000 after buying an additional 30,731 shares in the last quarter. United Services Automobile Association purchased a new stake in Marzetti in the first quarter worth approximately $231,000. Finally, Empowered Funds LLC purchased a new stake in Marzetti in the first quarter worth approximately $2,310,000. 66.44% of the stock is currently owned by institutional investors.

About Marzetti

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.